CBN grants licences to 11 money transfer operators

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The Central Bank of Nigeria on Tuesday said it had approved the licences of eleven international money transfer operators to do business in Nigeria.

The apex bank in a statement signed by the acting Director, Corporate Communications Department, Mr. Isaac Okoroafor, said the move was in line with the bank efforts to liberalise the foreign exchange market.

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The statement explained that it would ensure liquidity and make foreign exchange are more readily available to low-end users. The newly licensed operators are Trans-Fast Remittance, WorldRemit Ltd, UAE exchange Centre, WARI Limited, Homesend, Small World Financial Services Group and Weblink International Limited.

Others are Cashpot Limited, DT&T Corporation Limited, FIEM Group and CP Express Limited. The CBN in the statement said it was committed in providing an enabling environment for international money transfer services in Nigeria.

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